WRRSV is pleased to announce a $4,255,437.84 class action settlement in Couch, et al. v. SMC Lending, et al., Case No. CV100-4332 CC. Residential Funding Corporation has agreed to pay $4,255,437 to settle the claims of 147 class members who obtained 88 second mortgage loans from SMC Lending on or after June 29, 1994. SMC Lending sold and assigned these 88 loans to Residential Funding Corporation. Class Members who do not opt out of the Settlement will be entitled to a substantial settlement payment under the Settlement. The estimated settlement payments range from a low of $4,530 to a high of $109,527, with an average of $28,479 per loan.
Class Members can see what we currently estimate the amount of their settlement payment to be by accessing the Proposed Distribution Schedule. To access the Proposed Distribution Schedule for your settlement benefit, click here.
Links to Settlement Documents
Links to Other Pleadings, Orders, Reports, and Document
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